Porsche to join new race series in 2014

Porsche will join a new racing series in 2014, but it won't be Formula One or the German Touring Car Masters (DTM) series.

Instead, the German sports car maker will compete in an endurance racing world championship sanctioned by FIA, which also oversees F1 and other top-level competitions.

"FIA is working on a concept," Porsche CEO Matthias Mueller told Automotive News Europe in an interview. "Other brands have already shown interest."

Sources say Audi, Peugeot and Toyota also may join the new race series.

Porsche development chief Wolfgang Hatz told Automotive News Europe that FIA (short for Fédération Internationale de l'Automobile) should decide to have the series when its world council meets in December.

"That way, we can be part of this new racing series in 2014. This would be in addition to our involvement in the 24 Hours of Le Mans," Hatz said.

Mueller said the new series is appealing to Porsche because it will feature races in Europe, the United States and Asia.

Another advantage is that the series is more affordable than F1.

"Formula One is still not interesting for us," Mueller said. "It is simply too expensive and doesn't offer enough in exchange, especially for spectators."